6 hours agoIran-Israel truce: Oil prices fall immediately
Periskopi(a year ago)
(a year ago)Oil prices reached the lowest level in the past two weeks Tuesday, after Israel accepted US President Donald Trump's proposal for a ceasefire with Iran. The prices of crude oil fell by $3.82, or $5.3%, at $66.66 a barrel at 8:45 our local time. Raw oil [...]
The prices of crude oil fell by $3.82, or $5.3%, at $66.66 a barrel at 8:45 our local time.
US crude oil, West Texas Intermediate, dropped $3.75, or 5.5%, to $66.76 per barrel, Reuters reports.
Israel has agreed with Trump's proposal for a ceasefire with Iran, Prime Minister Benjamin Netanyahu said in a statement issued by his office on Tuesday.
Trump said Monday that Israel and Iran have fully agreed to a ceasefire, adding that Iran will start the ceasefire immediately, followed by Israel in 12 hours.
If both sides maintain peace, the war will officially end in 24 hours, ending a 12-day conflict.
Iran is the third largest producer of crude oil in the OPEC, and the ceasefire would enable it to export more oil and prevent supply cuts, an important factor in rising oil prices in recent days. /Periscope/
